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December 15, 2021

Levis RM has FIFO

LinkedIn-FIFO

Have you ever wondered how it's possible that you can order a pair fluffy bunny slippers online and have them arrive at your doorstep the next day?

In normal times, this would seem like an impressive feat of human cooperation, but given what supply chains and been put through over the last 2 years, it's even more miraculous that overnight bunny slippers are still a thing. Human beings are amazingly adaptible creatures and while our supply chains have taken a hit, new innovative solutions keep surfacing to not only keep things on track, but to improve on and replace old and tired infrastruture and methodologies. 

Now the supply chain as a whole is a very large and complicated topic for discussion and one that exceeds my understanding of things. Manufactuing, logistics, the environment, geo political boundaries and countless other variables come into play. While we can't solve all the problems around it, by working with our industry partners, Levis has been pushing boundaries on what organizations can at least expect from their inventory management software.

Proper inventory management is crucial for a healthy supply chain and for the financial and operational health of an organziation. Some of the problems Levis RM solves include:

Overstocking

Too much inventory on the shelf is a waste of company resources and hurts cashflow. 

Understocking

On the flip side, if you don't have enough in stock, you're not going to be able to statisfy and keep up with your clients' demands.

Transparency between manufacturers, distributors, and clients 

Being transparent with your partners in your supply chain should be your service standard. You can have your suppliers fulfill orders for you automatically when inventory thresholds are hit, and you can do the same for your customers.

Lack of centralization

You can't always store inventory in one location! Track inventory across multiple locations and sub locations, and also share that information with clients, partners and other dealers.

Easy to use interface & QR code scanning

One of the common points of failure for resource management and ERP software is lack of buy-in from staff. If your staff aren't using the software as intended, the whole thing will unravel quickly. Levis RM has a streamlined mobile app with QR scanning so employees can focus on doing their job and won't be distracted by difficult to use software.

That's Not All!

We've taken Levis RM a step further and we've added FIFO (First In, First Out) tracking for inventory!

The concept of FIFO is simple: as inventory is removed from your system, you use up the oldest inventory first. This has a couple advantages:

Better cost control and analytics

With FIFO inventory you know exactly what the cost is on each order. When you inventory is received, we track your cost on it and keep track of that until you move it out of your system.

Keep track of goods with experation dates

If you have inventory with an experiation date, you'll naturally want to move this product before its due date. With FIFO tracking you'll be able to identify what inventory should be used first, and will received notifcations before something expires.

 

Thanks to our partners at MMK Industrial Suppy https://mmksupply.com/ and Globex Management https://globexmanagement.com/ for their input as we continue to make Levis RM a more feature rich platform to solve resource management challenges in a wide varierty of industries!

 

 

 

 

 

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816 1st Ave N,
Saskatoon, SK S7K 1Y3

+1 (306) 250-5387
info@levistech.ca

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